The Opportunity Zones program encourages long-term investment and job creation in low-income areas of the state, by allowing investors to re-invest unrealized capital gains in designated census tracts. The state of Missouri submitted 161 Opportunity Zones to the federal government for inclusion in the program.
Provides lower-interest financing for certain types of projects.
The Missouri Qualified Research Expense Tax Credit Program is a program that provides incentives for additional research expenses for tax years beginning on or after January 1, 2023, for tax years beginning on or after January 1, 2023.
To grow the state’s manufacturing industry, a variety of producers (electrical energy, coal, gas, machinery equipment, chemicals, energy sources, materials, etc), can access a 4.225 state sales tax exemption as well as a local use tax.
To grow the state’s investment in research and development, purchases of Missouri qualified research and development equipment can access a 4.225 state sales tax exemption as well as a local sales and use tax.
Grants to small businesses to create resiliency and help accelerate their ongoing recovery, including speciﬁc support for minority and women-owned businesses.
Total allocation: $10,000,000
Award date FAQs:
I submitted my application early but have not heard back yet. What is the status of my application?
This program helps small business incubators leverage funds to use for working capital and other non-operating expenditures that support new business creation in communities.
Facilitate the redevelopment of blighted areas by providing essential public infrastructure.
Targeted Industrial Manufacturing Enhancement (TIME) Zones may be created by communities for the purpose of completing infrastructure projects to promote economic development. The zone board governing an established TIME zone may enter an agreement with the Department to retain 25% of the state withholding tax from new jobs within the zone to fund improvements in the zone.
With more than 120 wineries throughout the state, Missouri supports continued growth for our vineyards and wine producers. Through this program, growers and producers can access tax credits for the purchase of new equipment and materials for expanding Missouri’s wine industry.